Bitcoin, Ethereum and Ripple Are Suffering Massive Plunges Yet Again

Bitcoin is falling again. On Tuesday morning, it fell as low as $11,750, representing a massive 24-hour drop of almost 15%.

The most popular cryptocurrency isn’t the only one to be sliding. Ethereum was down 21% to $1,046. Ripple, which has recently been picking up a lot of attention on the back of Bitcoin’s woes, was down 29% to $1.30.

Before the the last big crash in December, Bitcoin briefly peaked at around $19,600 before returning to a relatively sedate existence around the $15,000 mark. Then it fell more than 40% over a five-day period, before mostly regaining those losses.

On Monday, Bloomberg reported that China—which already banned cryptocurrency exchanges last year—is stepping up actions against other online and app-based services that offer exchange-like functionality.

Monday also saw reports emerge that BlackWallet, a provider of digital wallet services, suffered a clever attack that allowed someone to make off with hundreds of thousands of “lumens”—the virtual coin used by a system called Stellar—that had a total value of more than $400,000.

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